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Caracas Essays

Effect of Oil Crisis on the Local Economy of Caracas, Venezuela

Introduction Over the past years, petroleum production in Venezuela has significantly impacted its economy and people’s livelihood. Aljazeera reports that oil comprises more than 90 percent of Venezuela’s export revenue (par. 2). According to an economic consultant based in Caracas, the country risked generating less than $8 billion export revenue in 2020, a significant decline ... Read More
Pages: 7       Words: 1869
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